IPO
Logistics co. Western Carriers’ Rs.493-Cr IPO subscribed 31 times
The initial public offering (IPO) of Kolkata-headquartered multi-modal asset-light logistics company, Western Carriers (India) Ltd , was subscribed over 30.57x. The IPO received 63,78,53,898 applications against 2,08,68,467 shares offered.The Qualified Institutional Buyers’ (QIBs) category was subscribed 27.99 times, while the quota for Non-Institutional Investors (NIIs) was subscribed 44.71 times. The portion for Retail Individual Investors (RIIs) got subscribed 25.95 times.The IPO included a fresh issue of equity shares aggregating INR 400 crore and an offer for sale by promoter Rajendra Sethia, aggregating 54 lakh equity shares. The price band of the offer was INR 163 to INR 172 per equity share.JM Financial and Kotak Mahindra Capital were the book-running lead managers to the offer.
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